The construction phase of a monumental offshore wind farm 15km off the Arbroath coast is under way after the last of the £3.5 billion needed to build it was secured.
Inch Cape is a 1,080 megawatt (MW) development which when completed can produce enough energy to power more than 1.1 million homes.
Building works are expected to begin in the spring and first power by the end of 2026, developers said. Commercial generation will start by 2027.
Montrose Port will operate as base of operations for the windfarm, which will create up to 50 jobs.
And Dundee Port is also set to benefit, as the site where the giant turbine towers are assembled.
Funding has been secured, Inch Cape said, from 22 different banks.
Inch Cape secures £3.5 billion
Inch Cape is jointly owned by ESB and Red Rock Renewables.
It will see state-of-the-art wind turbine technology built off the Angus coastline.
Inch Cape will be the first UK project to use Vestas 15.0 MW turbines and once operational will generate almost 5 terawatt hours (TWh) of energy each year.
The project has consent for tip heights of up to 291 metres, roughly 50% higher than the Seagreen project.
Paul Lennon, head of offshore wind, hydrogen and long-term storage at ESB, said: “Reaching this major milestone of financial close is a significant achievement for ESB, Red Rock Renewables and the whole project team. It is testament to the resilience, expertise and capability of the project team, project partners and both shareholders.
“Offshore wind will play a key part in the delivery of ESB’s net zero strategy by 2040 and Inch Cape is an important step along that journey.
“We look forward to entering the main construction phase and safely delivering this project over the coming years.
“Inch Cape will make a significant contribution to the UK climate goals, while creating local jobs.”
Work to begin in the spring
Inch Cape has a 50-year lease with Crown Estate Scotland. And it has secured 15-year contracts with the Low Carbon Contracts Company (LCCC) through the government’s Contract for Difference.
The project has already spent £300m with more than 300 UK companies.
Inch Cape project director John Hill said: “I am very proud for the project team. It is a great achievement to reach financial close on the Inch Cape project, which is at the forefront of technology in the offshore wind industry.
“The project is the largest infrastructure project currently in construction in Scotland. And it will deliver huge quantities of clean low-cost energy once completed in 2027.”
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